Home Buying in 33405>Question Details

Karen, Home Buyer in 33406

There is a house that I would like to buy, but it is already under contract. cold I offer the buyer a sum of money to give up the contract?

Asked by Karen, 33406 Mon Aug 1, 2011

Help the community by answering this question:

Answers

5
BEST ANSWER
Hi Karen,
Have you had your agent contact the sellers agent to see how strong the contract is? WIl they allow you to put a back up offer in? If not have your agent call them if the property should come back on the market. I doubt you will be successful trying to buy out the other offer. Your agent could always ask. Is the contract assignable? Then they could sell you the contract. If your not working with an agent you should find one to help you.

Best of luck,
Nancy
0 votes Thank Flag Link Mon Aug 1, 2011
Yes. But, the contract or sellers' lender, if a short sale, may or may not prevent you from pursuing the property and this buy-out would have to be disclosed on the HUD.

I'm not a lawyer, this is not legal advice, just my thoughts!
0 votes Thank Flag Link Tue Aug 2, 2011
Yes. But, the contract or sellers' lender, if a short sale, may or may not prevent you from pursuing the property and this buy-out would have to be disclosed on the HUD.

I'm not a lawyer, this is not legal advice, just my thoughts!
0 votes Thank Flag Link Tue Aug 2, 2011
Money Talks, however....

Who says the buyer will not walk anyway... or perhaps not be able to close? This is a dangerous, and expensive approach for you.

If you do this you will be negotiation from a position of weakness from the very beginning with the current buyer, and the actual seller. Overpay on a property now and you will probably regret that decision for along time to come.

Convenience has a price... how much are you willing to pay?

Sincerely,

Randy P.
Web Reference: http://www.trust2move.com
0 votes Thank Flag Link Mon Aug 1, 2011
This is nothing that money can not solve. $25k to make the buyer walk?
0 votes Thank Flag Link Mon Aug 1, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer